Key Points
- Insider Titus Ball sold 1,559 BeOne Medicines shares for about $632,284 at an average price of $405.57, reducing his direct ownership by 63.92% to 880 shares.
- BeOne reported quarterly earnings of $3.64 per share, beating the $2.34 consensus estimate, and revenue of $1.89 billion versus expectations of $1.76 billion.
- Analysts maintain a broadly positive view: the stock has an average “Buy” rating and a $436.92 average price target; Barclays raised its target to $446.
BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Titus Ball sold 1,559 shares of the stock in a transaction on Friday, November 6th. The shares were sold at an average price of $405.57, for a total transaction of $632,283.63. Following the transaction, the insider directly owned 880 shares in the company, valued at approximately $356,901.60. The trade was a 63.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
BeOne Medicines Stock Up 1.6%
Shares of NASDAQ ONC opened at $424.00 on Wednesday. The company's 50-day simple moving average is $365.79 and its 200-day simple moving average is $327.15. BeOne Medicines Ltd. - Sponsored ADR has a 52-week low of $253.95 and a 52-week high of $424.73. The firm has a market cap of $46.55 billion, a price-to-earnings ratio of 50.71 and a beta of 0.63. The company has a quick ratio of 3.19, a current ratio of 3.55 and a debt-to-equity ratio of 0.14.
BeOne Medicines (NASDAQ:ONC - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $2.34 by $1.30. BeOne Medicines had a net margin of 13.86% and a return on equity of 19.04%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.76 billion. Equities analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post 8.99 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. OneAscent Family Office LLC acquired a new stake in BeOne Medicines during the third quarter worth about $244,000. Voya Investment Management LLC acquired a new position in BeOne Medicines in the 3rd quarter valued at about $1,705,000. Global Retirement Partners LLC boosted its holdings in BeOne Medicines by 92.2% in the 3rd quarter. Global Retirement Partners LLC now owns 663 shares of the company's stock valued at $243,000 after purchasing an additional 318 shares during the last quarter. HighTower Advisors LLC boosted its holdings in BeOne Medicines by 286.8% in the 3rd quarter. HighTower Advisors LLC now owns 3,508 shares of the company's stock valued at $1,284,000 after purchasing an additional 2,601 shares during the last quarter. Finally, Morse Asset Management Inc grew its stake in shares of BeOne Medicines by 5.4% in the 3rd quarter. Morse Asset Management Inc now owns 1,452 shares of the company's stock valued at $531,000 after buying an additional 74 shares during the period. Institutional investors and hedge funds own 48.55% of the company's stock.
Wall Street Analyst Weigh In
ONC has been the subject of several research reports. Barclays boosted their price objective on BeOne Medicines from $415.00 to $446.00 and gave the stock an "overweight" rating in a research note on Friday, November 6th. Wall Street Zen upgraded BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 18th. Morgan Stanley restated an "overweight" rating and issued a $425.00 target price on shares of BeOne Medicines in a research report on Friday, October 16th. Wolfe Research reaffirmed an "outperform" rating and issued a $370.00 price target on shares of BeOne Medicines in a research note on Monday, August 10th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $470.00 price target on shares of BeOne Medicines in a research report on Thursday, November 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $436.92.
Check Out Our Latest Report on BeOne Medicines
About BeOne Medicines
(
Get Free Report)
BeOne Medicines, formerly known as BeiGene, is a global biotechnology company focused on discovering, developing, manufacturing and commercializing cancer medicines. Founded in Beijing in 2010, the company has expanded its research and commercial operations across multiple regions, including the United States, Europe and Asia. Its marketed products include Brukinsa (zanubrutinib), a targeted therapy for certain blood cancers, and Tevimbra (tislelizumab), an immunotherapy used to treat several types of cancer.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
